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Peso Rallies Across Argentina’s FX Markets as Blue Dollar Slides

U.S. support reports plus agro inflows helped relieve pressure, evidenced by a BCRA rate cut to roughly 25%.

Overview

  • Official quotes on September 25 show the Banco Nación at ARS 1,310/1,360, the wholesale at ARS 1,337.50, MEP at ARS 1,369.47, CCL at ARS 1,391.27, and the blue around ARS 1,385/1,405.
  • The blue dollar has fallen about ARS 110 over three sessions, narrowing gaps to roughly 3%–6% versus the official and wholesale rates.
  • The central bank reduced short‑term rates by about 10 percentage points to near 25%, coinciding with lower FX quotes across segments.
  • Market reports link the stronger peso to a proposed U.S. Treasury swap of up to US$20 billion and the temporary suspension of export retentions that boosted agricultural dollar supply, with bonds and ADRs extending gains.
  • Reserves are reported near US$39.03 billion, and operators noted talk of Treasury FX purchases as the wholesale rate touched ARS 1,337.50; regionally, Venezuela’s BCV marked 169.9761 VED/USD (Sept 24) and Mexico’s Banxico FIX stood at 18.41 MXN/USD (Sept 25).